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CBRE GI Acquires Stake in $1.5B Retail Portfolio

Los Angeles-based CBRE Global Investment Partners (GIP) acquired a 45% interest in a $1.5 billion portfolio of 55 retail assets, totaling nearly seven million square feet across 12 U.S. West Coast markets. The investment was made on behalf of GIP’s Global Alpha Fund, as well as separate account clients. San Francisco-based Merlone Geier Partners (MGP) will remain the majority owner and operating partner.

The properties are concentrated in Southern California, Seattle and Sacramento, as well as the Bay Area and Portland, OR. Assets are primarily located in neighborhoods that offer strong demographics to support a strengthening retail sector.

The portfolio includes neighborhood, community and power centers with a strong tenant base. It provides an attractive core-plus risk profile, with a mix of in-place long-term income and short-term value creation opportunities.

Eastdil Secured advised MGP.

For comments, questions or concerns, please contact Dennis Kaiser


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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

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